Showing posts with label SPY bull flag stocks pokerden. Show all posts
Showing posts with label SPY bull flag stocks pokerden. Show all posts

Sunday, November 16, 2008

Bull Flag

There is a bull flag that has developed on SPY. Looking for a short term top around 100.5. While that is the target, I am scaling the trade back starting at 92, and expect to be fully out by 97. This is still a bear market and countertrend rallies are extremely dangerous. Watchout for any type of break down and support at 84, 82, and 80.